AvalonBay Communities, Inc. $AVB Shares Sold by Public Employees Retirement System of Ohio

Key Points

• Public Employees Retirement System of Ohio cut its AvalonBay Communities stake by 12.9% in Q1, though it still held 211,756 shares valued at about $34.6 million.
• AvalonBay Communities reported mixed quarterly results, with EPS of $1.11 missing estimates, while revenue of $777.77 million slightly topped expectations.
• The company paid a quarterly dividend of $1.78 per share, annualizing to $7.12 and implying a 3.8% yield, while analysts currently rate the stock a consensus Hold with an average target price of $196.80.

Public Employees Retirement System of Ohio trimmed its position in AvalonBay Communities, Inc. (NYSE:AVB - Free Report) by 12.9% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 211,756 shares of the real estate investment trust's stock after selling 31,227 shares during the period. Public Employees Retirement System of Ohio owned approximately 0.15% of AvalonBay Communities worth $34,590,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. B&I Capital AG acquired a new position in shares of AvalonBay Communities during the first quarter worth about $11,194,000. Fort Washington Investment Advisors Inc. OH acquired a new stake in AvalonBay Communities in the fourth quarter valued at about $26,237,000. Principal Financial Group Inc. boosted its holdings in AvalonBay Communities by 9.3% in the 4th quarter. Principal Financial Group Inc. now owns 4,497,047 shares of the real estate investment trust's stock valued at $815,360,000 after purchasing an additional 383,983 shares in the last quarter. Duff & Phelps Investment Management Co. boosted its holdings in AvalonBay Communities by 4.5% in the 4th quarter. Duff & Phelps Investment Management Co. now owns 940,065 shares of the real estate investment trust's stock valued at $170,443,000 after purchasing an additional 40,216 shares in the last quarter. Finally, Pacer Advisors Inc. increased its position in AvalonBay Communities by 42.5% during the 4th quarter. Pacer Advisors Inc. now owns 16,167 shares of the real estate investment trust's stock worth $2,931,000 after purchasing an additional 4,820 shares during the period. 92.61% of the stock is owned by institutional investors and hedge funds.

AvalonBay Communities Trading Down 0.7%

Shares of AvalonBay Communities stock opened at $189.53 on Friday. The company has a 50-day moving average of $187.49 and a two-hundred day moving average of $179.44. AvalonBay Communities, Inc. has a 12-month low of $160.10 and a 12-month high of $203.29. The company has a current ratio of 0.62, a quick ratio of 0.62 and a debt-to-equity ratio of 0.74. The stock has a market cap of $26.93 billion, a PE ratio of 27.47, a price-to-earnings-growth ratio of 3.32 and a beta of 0.77.

AvalonBay Communities (NYSE:AVB - Get Free Report) last announced its quarterly earnings results on Wednesday, July 22nd. The real estate investment trust reported $1.11 EPS for the quarter, missing the consensus estimate of $1.23 by ($0.12). The firm had revenue of $777.77 million for the quarter, compared to analysts' expectations of $772.37 million. AvalonBay Communities had a return on equity of 8.58% and a net margin of 33.33%.During the same period last year, the firm earned $2.82 EPS. On average, research analysts anticipate that AvalonBay Communities, Inc. will post 11.28 EPS for the current fiscal year.

AvalonBay Communities Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, July 15th. Investors of record on Tuesday, June 30th were issued a dividend of $1.78 per share. The ex-dividend date of this dividend was Tuesday, June 30th. This represents a $7.12 annualized dividend and a yield of 3.8%. AvalonBay Communities's payout ratio is currently 103.19%.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on the company. Royal Bank Of Canada increased their target price on AvalonBay Communities from $180.00 to $188.00 and gave the stock a "sector perform" rating in a research note on Wednesday, April 29th. Barclays restated an "equal weight" rating and issued a $205.00 price target (up from $203.00) on shares of AvalonBay Communities in a research note on Tuesday, July 14th. Wall Street Zen raised AvalonBay Communities from a "sell" rating to a "hold" rating in a report on Saturday, May 9th. Scotiabank increased their price objective on AvalonBay Communities from $187.00 to $195.00 and gave the stock a "sector perform" rating in a research report on Thursday, July 9th. Finally, Weiss Ratings raised AvalonBay Communities from a "hold (c)" rating to a "hold (c+)" rating in a report on Thursday. Three equities research analysts have rated the stock with a Buy rating and fifteen have assigned a Hold rating to the stock. Based on data from MarketBeat, the company presently has an average rating of "Hold" and an average target price of $196.80.

AvalonBay Communities Company Profile

AvalonBay Communities, Inc NYSE: AVB is a publicly traded real estate investment trust (REIT) that owns, develops, redevelops and manages multifamily residential properties. The company focuses on professionally managed apartment communities, offering a range of rental housing options and related resident services. As a REIT, AvalonBay's core activities center on the acquisition and development of apartment assets and the ongoing operations and leasing of those communities.

AvalonBay's operating activities include ground-up development, strategic redevelopment of existing properties, property and asset management, and on-site leasing and resident services.

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